Advertisement

Reports: Forever 21 Allegedly Mulling Bankruptcy

Forever 21 is considering filing for bankruptcy, according to reports from Bloomberg and CNBC. The retailer’s efforts to restructure its debts and improve liquidity have allegedly stalled, which makes the proceedings more likely.

Forever 21 did not immediately respond to requests for comment. The fashion retailer currently operates 815 stores globally, with many in malls. This has been a particularly vulnerable area for retailers, and the company would likely emerge from a bankruptcy with a smaller store footprint.

The retailer hired restructuring advisers in June to help negotiate store leases and overhaul the business to help avoid bankruptcy. The chain also could receive assistance from Simon Property Group, which told analysts in July that it would consider infusing capital into struggling retailers to guarantee they would keep stores open.

Advertisement

Retail TouchPoints will update this story as more details are confirmed.

Featured Event

Get free access to tactical tips, invaluable insights, and deep-dive conversations that will help you hone your strategies for Q4 and beyond. That way, you can be sure to be on shoppers’ nice lists this holiday season…and all year long.

Advertisement

Advertisement

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: